TeraWulf Q1 HPC revenue of $21M surpasses Bitcoin mining

Bitcoin mining firm TeraWulf's revenue from high-performance computing (HPC) leasing reached $21 million in the first quarter, surpassing its Bitcoin mining revenue of $13 million for the first time, The Block reported. The company's total revenue for the quarter was $34 million, nearly level with the $34.4 million recorded in the same period last year. During an earnings call, TeraWulf CEO Paul Prager explained that these results mark the first time HPC leasing has made a meaningful contribution to the company's financial statements.